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Understanding Land Lease Buildings in NYC: Risks, Opportunities, and Due Diligence

Jul 06, 2023 ,,,,,

Land lease buildings in New York City offer unique opportunities for savvy buyers, as they typically trade at a discounted price due to the uncertainties associated with lease renewals. Understanding the implications when a land lease expires is crucial for buyers, and working with an experienced buyer’s agent can provide valuable insights into this matter. […]

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Effective Tile and Grout Cleaning: Tips and Techniques

Jul 06, 2023 ,,,,,,

Cleaning tile and grout in your home can be challenging, as the best approach will depend on various factors, such as the type of stain and grout material. However, with proper identification and targeted cleaning methods, you can effectively restore the cleanliness of your bathroom walls without causing any damage. In cleaning tile and grout, […]

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Streamlining Real Estate Closings in New York State

Jul 06, 2023 ,,,,,,,

Real estate transactions in certain parts of New York State often encounter hurdles that impede smooth closings. Unlike many other states where real estate agents take the lead in handling transactions, negotiations in New York are primarily managed by attorneys who prepare contracts. This difference in approach often elongates the closing process, which typically lasts […]

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Water Damage in Your Brooklyn Apartment or Home: Essential Steps for Recovery

Jun 06, 2023 ,,,,,,,,

Water damage in your apartment can be a stressful and overwhelming experience. Brooklyn residents, in particular, are no strangers to the challenges posed by flooding and water damage. As climate change intensifies storms and increases the frequency, water-related issues have become more prevalent. Whether it’s a burst pipe, a leaking roof, or another cause, dealing […]

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Two Birds, One Stone:  Leveraging Tax Benefits By Using Cost Segregation to Immediately Write-Off All Impaired Assets

May 11, 2023 ,,,,,

By Eli Loebenberg, CPA, CEO, Madison SPECS Over the last several years, the use of cost segregation studies as a means of lowering income taxes has gone from being a niche practice utilized by the savviest of real estate investors to an almost standard part of purchasing commercial real estate properties, whenever applicable.  This has […]

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Guidelines to Property Improvements Provide Tax Deferral Strategies

May 11, 2023 ,,,,,

By: Eli Loebenberg, CPA, CEO, Madison SPECS   A key component of any commercial lease agreement is the tenant improvements and allowances, which are provided by the landlord.  The landlord usually provides customized alterations to a rental space in order to configure the property for the needs of that particular tenant. The costs of building […]

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Delaware Statutory Trusts for §1031 Exchange Replacement Property

May 11, 2023 ,,,,,

By Barry Neustadt, CPA, Tax Director, Madison 1031 Madison §1031’s exchange clients are often challenged face to find a suitable Replacement Property within the tight 45-day identification period.  We hear about cap rate compression from nearly every investor.  Then, when they find a property, they still need to negotiate an acceptable price and complete their […]

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New NYC Airbnb Law Requires You To Register Your Short-Term Rentals

May 11, 2023 ,,,,,,,

A short-term rental property has become a popular side hustle to provide an additional income stream. This is where tenants, landlords, and building owners are at battle. Some New York residents are applying for rentals without intending to live there. The idea is to list them as short-term rental properties on websites like Airbnb, Vrbo, […]

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How To Find Furniture For An Apartment On A Budget

May 10, 2023 ,,,,,,,,,

Did you find the perfect apartment in Brooklyn but realize you didn’t save to furnish your new place? That is not a problem. There are many ways to furnish your apartment, especially in Brooklyn, NY.  Below are ways you can find furniture for an apartment on a budget.  (PS Tina Fallon guest wrote a blog […]

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Did New Construction In Brooklyn Move in Next Door? Here is how to handle it.

May 10, 2023 ,,,,,,,,

Construction can be noisy and overall irritating, especially when you’re living right next to it. This is the case for most Brooklynites and New York City residents. On the bright side, there are actions you can take to block out the construction and keep your discomfort at a minimum during this time.  Collect All The […]

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